Teaching Personal Finance in Maine Schools, That’s Wicked Smaht

According to News Center Maine, a long overdue idea will soon be part of the Maine education curriculum, Personal Finance.

When it comes to money, many of us make mistakes out of ignorance. According to a report from Northwestern Mutual, the average American is carrying about $38,000 in debt. By teaching our K-12 students about financial responsibility, we can nip bad money moves in the bud.

Maine students will spend their entire school careers learning about being financially responsible and discovering what real life costs. The bill is waiting for a  signature from Gov. Mills. Both teachers and legislators are in support of the program.

Through the curriculum addition, kids will learn about how to create budgets, plan for the future, save money to reach financial goals and how to manage credit.

Anyone remember Home Ec. class? I took it back in the day when I was at Thornton Academy. Not only did we learn about cooking and sewing, but we also learned a little bit about household finances.

Running a home is a big deal, whether you are single and living alone, or married with a family. Leaving the nest of home without knowing how to establish credit, pay rent or how much bills such as electricity, cable and insurance can add up to, is a great disservice to our kids and sets them up for financial failure early on.